Used pickup market

S

Sangster21

Member
I have been needing a newer pickup since the start of covid. I have a '99 Dodge 2500 diesel and would like a 3500 diesel as I want to get a camper and be able to tow as well. It seems like there are a few more used trucks on the market lately and wonder if anyone has any insight on what the used market is likely to do in the next while? I could hold off a bit longer if I had some hope that used prices would drop to something a bit more reasonable in the foreseeable future. Any one in the business that could offer some thoughts?
 
I do know a guy who manages a dealership in the lower mainland (friend of a friend) and he has stated they do what they can to buy used vehicles right now as they don't have much new inventory. He has asked me if I wanted to sell my truck to him a couple of times.

I have to get a sensor replaced at my dealership and when I was there this morning they have 2 vehicles on the lot that are new and the rest is used inventory. I think with more competition and not just private buyers looking for vehicles but also dealers it is going to stick as a sellers market for a while. I am no expert on the industry but just a couple of observations.
 
Sangster21 said:
I have been needing a newer pickup since the start of covid. I have a '99 Dodge 2500 diesel and would like a 3500 diesel as I want to get a camper and be able to tow as well. It seems like there are a few more used trucks on the market lately and wonder if anyone has any insight on what the used market is likely to do in the next while? I could hold off a bit longer if I had some hope that used prices would drop to something a bit more reasonable in the foreseeable future. Any one in the business that could offer some thoughts?
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Message @leaseman on this forum, he's in the business
 
Repo.com had a 2017 ram 3500 for $50,000. Might not be a bad deal considering what some trucks are going for
 
Sangster21 said:
I have been needing a newer pickup since the start of covid. I have a '99 Dodge 2500 diesel and would like a 3500 diesel as I want to get a camper and be able to tow as well. It seems like there are a few more used trucks on the market lately and wonder if anyone has any insight on what the used market is likely to do in the next while? I could hold off a bit longer if I had some hope that used prices would drop to something a bit more reasonable in the foreseeable future. Any one in the business that could offer some thoughts?
Click to expand...
As someone who is in the business, it pains me to tell you to hang in and look for the right vehicle. After a year and a half of crazy appreciation, used vehicle prices are falling quickly and should continue to do so over the next 3 -6 months. Interest rate increases and dropping consumer confidence are the primary reason for the decline. Also, new car inventory is starting to improve so that will also make used vehicles a little less appealing which also impacts their price.
 
Raising interest rates will eventually kill this hot auto cycle. Having an 500k mortgage and an 80k truck is a lot more per month the it used to be.
 
Thanks for the replies, I do hope that in the next while the new truck supply picks back up in the dealerships and that used prices return to a more reasonable level. Interesting that while we in Canada have supply issues on the dealers lots, apparently in the States that is not the case and the lots are full!? I am pretty sure I can coax the old Dodge along for another 6 months or so. It has less than 400k and I did have the transmission rebuilt last year.
 
Go on youtube and search 40,000 ford super. Duties. Once those trucks start getting the chips and parts they need you will see some blow out pricing. I am a Sales Manager at a dealership and we have seen used vehicle prices starting to soften. More so on the gas trucks than the Diesels.
 
Sangster21 said:
I have been needing a newer pickup since the start of covid. I have a '99 Dodge 2500 diesel and would like a 3500 diesel as I want to get a camper and be able to tow as well. It seems like there are a few more used trucks on the market lately and wonder if anyone has any insight on what the used market is likely to do in the next while? I could hold off a bit longer if I had some hope that used prices would drop to something a bit more reasonable in the foreseeable future. Any one in the business that could offer some thoughts?
Click to expand...
If it was me looking for a used pickup I would stay away from ones that have towed boats. With everybody now using bunk trailers most of these pickups have been backed into saltwater sometimes over the tail pipe or even further.
 
leaseman said:
I hunt high and low for good trucks/vans etc. If you go looking there, be careful, I have not bought one off them yet as many are very tough.....
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I bought a 2004 F350 from them in 2007. It had 90000km but it was too good a deal to pass up. Cost me $15k that year in repairs. Sold it for a song less than a year after I bought it. Most money I ever spent/lost on a vehicle in my life.
 
The new vehicle market is expected to soften significantly going forward, Ford and GM stocks are both down ~7% over the past few days.

That increased availablity of new vehicles will reduce used vehicle demand and pricing.

That said, I confirmed a '23 F350 order today, converted from a '22 and the sales manager told me it will probably be roughly June for delivery... I think six months from now though we will be in a very different landscape... I'd hold out if you can...
 
M1SF1T said:
The new vehicle market is expected to soften significantly going forward, Ford and GM stocks are both down ~7% over the past few days.

That increased availablity of new vehicles will reduce used vehicle demand and pricing.

That said, I confirmed a '23 F350 order today, converted from a '22 and the sales manager told me it will probably be roughly June for delivery... I think six months from now though we will be in a very different landscape... I'd hold out if you can...
Click to expand...
Have they even released the 2023 pricing? the order banks where supposed open in the 20th for 23s, now delayed until the 27th. A lot of unkowns with what can be ordered, they really slashed the options last April and I can't even order the same truck (if they where taking orders).

Been waiting on my order since February and very unlikely I'll see my 2022 and now prices have increased $3500 since I ordered, not including 2023 price increases. I suspect I would have to order a lariat instead of the xlt I wanted if I want the same features...

Frustrating...
 
I thought long and hard about this before I converted my Lightning MY 2022 order over to a 2023. Prices jacked 11,000 in those few months. Climbing interest rates are taking the overall market off the boil, but less so for EV. It felt like a bait & switch - still does - but the massive reduction in running costs and no other EV pickup available in the next 2 years made me decide to stick with Ford. For now. Any more shenanigans and I'm out.
 
Rain City said:
I bought a 2004 F350 from them in 2007. It had 90000km but it was too good a deal to pass up. Cost me $15k that year in repairs. Sold it for a song less than a year after I bought it. Most money I ever spent/lost on a vehicle in my life.
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Your first problem was buying a 2004 f350. But I guess you weren’t aware of the problems at that time.

My buddy sold a late 90’s ram Cummins for a 2006ish f350 thinking he would just build the engine up and it’ll run more reliable then stock. That thing breaks down on every road trip he goes on. He just bought it within the last two years so he ignored all the bad info available on that 6.0L
 
Corey_lax said:
Your first problem was buying a 2004 f350. But I guess you weren’t aware of the problems at that time.
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Yeup. You hit the nail on the head there. It was also my first newish vehicle. I learned a lot about warranties, or lack thereof, at that time as well.
 
Lots of hate for the 6.0 but if you did the modifications you had too it was a pretty decent engine…..had the same power as my current Cummins, better fuel economy and the V8 is much more driveable than the bottom end power of the I6.

And you can pick up a loaded one for about a quarter the price of a similar Duramax or Cummins. After full delete of my 2004 I literally had zero problems. It was just getting worn out…..I also enjoy working on vehicles so I didn’t mind doing the work either.
 
475k on my 03 dodge. Similar boat -- Would like to get a newer truck, but I paid 13k K for mine with 270 on the clock.. I cant replace it for a reasonable price, so it probably going to see another 100 before replacement. Everything that spins on its been replaced -- Except the motor.
 
I have a truck for sale that might work for you?
It's on a dealer lot in Richmond right now.

vancouver.craigslist.org

Dodge Ram 3500 Diesel - cars & trucks - by owner

Turbo and engine recently had a major service performed. Receipts for the service available. The Cummins Turbo Diesel speaks for itself. Come see it and drive it, you won't be disappointed. 188,000km
vancouver.craigslist.org

I'd take 37,500k for it today

2012 Dodge Ram 3500 SLT 188K

This was going to be my 10 year work truck but unforeseen work/life move to Dallas Texas has changed plans.

I have only owned for about 8 months and have performed major updates to bring it up to great overall condition, truck is ready to go with no issues

History of recent service work/upgrades and all receipts available:

  • Brand new turbo removal and replacement completed by JD Diagnostics and Diesel in Abbotsford March 2022 $4200
  • DELETE - EGR Delete and exhaust reconfigure completed by JD Diagnostics and Diesel in Abbotsford March 2022 $2500
  • Installation of Kenwood Audio double din Excelon DMX706S w/ wireless Apple Car Play and wireless Android Auto – Installation of USB ports for hardwire connections also for both Car Play Apps. Installation of remote start. Installation of microphone for hands free. Installation of high res backup camera integrated into tailgate for factor look. Completed by Krank’d Audio in Langley $3000
  • New WIN module (ignition module) replaced by White Rock Dodge - $1000
  • Full brake and rotor removal and replacement $3900 completed by Wards Hillop Napa Auto Pro in White Rock
  • All oil changes up to date

I'm getting absolutely rinsed on this as I paid $37,500 for it in March 2022 and then did a bunch of work to it! My loss your gain!
 
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